The indicator is showing relative actual strength of currency XXX.
The indicator calculates its value of close prices of 7 pairs containing currency XXX.
The indicator can be used for MEAN REVERSION based strategies.
Lets assume XXX YYY currency pair scheme where XXX is BASE currency and YYY is QUOTEcurrency.
Place Power of XXX into your chart first and Power of YYY second.
You can have 2 relevant situations.
- Indicators curves are close to each other. It means there is higher probability that the price of the pair XXX YYY will go UP.Do not take Power of .. signals separately from overall market situation (SR levels/zones and so on).
- Indicators curves are FAR from each other. It means there is higher probability that the price of the pair XXX YYY will go DOWN.
Do not take Power of .. signals separately from overall market situation (SR levels/zones and so on).
Power of JPY MT4 Indicator – Download Instructions
In order to transform accumulated history data, you need to install a MetaTrader 4
Power of JPY - it is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.
Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.
How to install Power of JPY indicator for MetaTrader 4.mq4?
Download indicator for MetaTrader 4.mq4
Copy Power of JPY to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt5 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on MT4 indicator for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
now indicator for MetaTrader 4.mq4 is available on your Chart
How to remove MT4 Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?
Select the Chart where is the Indicator running in your Metatrader 4 Client
Right click into the Chart
Select the Indicator and delete.
Related Indicator: Power of EUR MetaTrader 4 Forex Indicator
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